(b) For purposes of this section, “business credit” means a credit allowable under any provision of Chapter 2 (commencing with Section 17041) other than the following credits:

1. (1) The credit allowed by Section 17052.6 (relating to credit for household and dependent care).
2. (2) The credit allowed by Section 17052.25 (relating to credit for adoption costs).
3. (3) The credit allowed by Section 17053.5 (relating to renter’s tax credit).
4. (4) The credit allowed by Section 17053.80 (relating to full time employment hiring credit).
5. (5) The credit allowed by Section 17054 (relating to credit for personal exemption).
6. (6) The credit allowed by Section 17054.5 (relating to credit for qualified joint custody head of household and a qualified taxpayer with a dependent parent).
7. (7) The credit allowed by Section 17054.7 (relating to credit for senior head of household).
8. (8) The credit allowed by Section 17061 (relating to refunds pursuant to the Unemployment Insurance Code).

(g) The provisions of this section shall not apply to a taxpayer with net business income of less than five hundred thousand dollars ($500,000) for the taxable year. For purposes of this subdivision, business income means:

1. (1) Income from a trade or business, whether conducted by the taxpayer or by a pasthrough entity owned directly or indirectly by the taxpayer. For purposes of this paragraph, the term “passthrough entity” means a partnership or an “S” corporation.
2. (2) Income from rental activity.
3. (3) Income attributable to a farming business.